BXF: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
BXF
Largest movements
- Receivables within one year +€1.6m
up €1.6m (+721.8%), from €228,005 to €1.9m
of which Trade receivables: +€1.5m
- Stocks and contracts -€264,323
down €264,323 (-28.3%), from €935,626 to €671,302
- Profit (loss) carried forward +€803,897
up €803,897, from -€76,630 to €727,267
- Trade debts +€336,975
up €336,975 (+9148.5%), from €3,683 to €340,659
- Tax, wage and social debts +€154,003
new in 2025: €154,003
- Current portion of long-term debt -€128,951
down €128,951 (-78.8%), from €163,566 to €34,616
- Other debts +€99,950
up €99,950 (+11.1%), from €901,791 to €1.0m
- Gross operating margin +€1.2m
up €1.2m, from -€195,332 to €1.0m
- Taxes +€154,003
new in 2025: €154,003
- Financial charges -€57,961
down €57,961 (-64.2%), from €90,243 to €32,282
- Other operating charges -€57,542
down €57,542 (-98.2%), from €58,597 to €1,055
- Depreciation -€24,213
down €24,213 (-48.5%), from €49,928 to €25,715
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,677,355 | €3,024,325 | +€1.3m | +80.3% |
| Fixed assets | 21/28 | €503,389 | €477,675 | -€25,715 | -5.1% |
| Tangible fixed assets | 22/27 | €503,389 | €477,675 | -€25,715 | -5.1% |
| Land and buildings | 22 | €488,969 | €470,138 | -€18,832 | -3.9% |
| Furniture and vehicles | 24 | €14,420 | €7,537 | -€6,883 | -47.7% |
| Current assets | 29/58 | €1,173,965 | €2,546,650 | +€1.4m | +116.9% |
| Stocks and contracts in progress | 3 | €935,626 | €671,302 | -€264,323 | -28.3% |
| Stocks | 30/36 | €935,626 | €671,302 | -€264,323 | -28.3% |
| Amounts receivable within one year | 40/41 | €228,005 | €1,873,748 | +€1.6m | +721.8% |
| Trade receivables | 40 | - | €1,500,000 | +€1.5m | |
| Other amounts receivable | 41 | €228,005 | €373,748 | +€145,743 | +63.9% |
| Cash at bank and in hand | 54/58 | €10,335 | €1,600 | -€8,735 | -84.5% |
| Total equity and liabilities | 10/49 | €1,677,355 | €3,024,325 | +€1.3m | +80.3% |
| Equity | 10/15 | -€56,203 | €747,694 | +€803,897 | |
| Contributions | 10/11 | €18,570 | €18,570 | = | 0.0% |
| Capital | 10 | €18,570 | €18,570 | = | 0.0% |
| Issued capital | 100 | €18,570 | €18,570 | = | 0.0% |
| Reserves | 13 | €1,857 | €1,857 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,857 | €1,857 | = | 0.0% |
| Legal reserve | 130 | €1,857 | €1,857 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€76,630 | €727,267 | +€803,897 | |
| Amounts payable | 17/49 | €1,733,558 | €2,276,631 | +€543,073 | +31.3% |
| Amounts payable after more than one year | 17 | €664,517 | €745,613 | +€81,095 | +12.2% |
| Financial debts | 170/4 | €664,517 | €745,613 | +€81,095 | +12.2% |
| Amounts payable within one year | 42/48 | €1,069,041 | €1,531,019 | +€461,978 | +43.2% |
| Current portion of amounts payable after more than one year | 42 | €163,566 | €34,616 | -€128,951 | -78.8% |
| Trade debts | 44 | €3,683 | €340,659 | +€336,975 | +9148.5% |
| Suppliers | 440/4 | €3,683 | €340,659 | +€336,975 | +9148.5% |
| Taxes, remuneration and social security | 45 | - | €154,003 | +€154,003 | |
| Taxes | 450/3 | - | €154,003 | +€154,003 | |
| Other amounts payable | 47/48 | €901,791 | €1,001,741 | +€99,950 | +11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,928 | €25,715 | -€24,213 | -48.5% |
| Other operating charges | 640/8 | €58,597 | €1,055 | -€57,542 | -98.2% |
| Gross operating margin | 9900 | -€195,332 | €1,016,952 | +€1.2m | |
| Operating profit (loss) | 9901 | -€303,857 | €990,183 | +€1.3m | |
| Financial income | 75/76B | €4 | - | -€4 | |
| Recurring financial income | 75 | €4 | - | -€4 | |
| Financial charges | 65/66B | €90,243 | €32,282 | -€57,961 | -64.2% |
| Recurring financial charges | 65 | €90,243 | €32,282 | -€57,961 | -64.2% |
| Profit (loss) for the period before taxes | 9903 | -€394,096 | €957,900 | +€1.4m | |
| Income taxes | 67/77 | - | €154,003 | +€154,003 | |
| Profit (loss) for the period | 9904 | -€394,096 | €803,897 | +€1.2m | |
| Profit (loss) for the period to be appropriated | 9905 | -€394,096 | €803,897 | +€1.2m |
Source: filed annual accounts (NBB), financial years ended 29 September 2024 and 29 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.